Professional Indemnity Insurance: Market Update 2025
08/01/2025 Written by: Torquil Crawford, Divisional Director - Professional Indemnity
Exploring New Opportunities in a Stabilising Market: The Professional Indemnity (PI) insurance market in 2025 is presenting a markedly more positive outlook compared to recent years. Firms now have more options to choose from than they’ve seen for some time, creating opportunities to secure long-term, mutually beneficial relationships with insurers and brokers. AssuredPartners is here to help your firm navigate this changing landscape and find the best fit for your needs.
The PI Insurance Landscape in 2025: Challenges and Opportunities
Market Stability ForLong-Term Partnerships
The PI insurance market has entered a period of relative stability. This is excellent news for firms, as it reduces the pricing volatility and capacity shortages that have been prevalent in recent years. With rate corrections largely settling, law firms now have the chance to build meaningful, long-term partnerships with insurers and brokers, focusing on trust and mutual benefit.
Emerging Risk Exposures Demand Attention
While traditional risk factors such as areas of work, claims history, and revenue remain central to underwriters’ assessments, 2025 brings a sharper focus on emerging risks. Advancements in technology, particularly the implementation of AI, are a key consideration. Underwriters are increasingly interested in how firms supervise and utilize these tools, alongside the workplace culture and approach to risk management. Demonstrating strong leadership, clear policies, and robust supervision will be crucial for firms aiming to stand out.
Premium Trends and What to Expect in 2025
Opportunities for Competitive Premiums
For well-managed firms with solid risk management practices and a clean claims history, 2025 offers a chance to negotiate highly competitive premiums. Working closely with an experienced broker can help ensure you secure the most favorable terms available.
For firms with higher-risk profiles or recent claims challenges, significant premium reductions may still be elusive. However, there are now more viable options in the market, which is a marked improvement for smaller firms that have struggled to find affordable coverage in recent years.
Capacity and Competition in the PI Market
Increased Capacity Brings More Choice
The increase in available market capacity is one of the most promising developments of 2025. With more insurers offering PI coverage, firms can explore a wider range of options. Engaging with a broker who has ‘open market’ access is essential to secure comprehensive quotations and ensure all possibilities are considered.
Why Choose AssuredPartners?
At AssuredPartners, we understand the challenges and opportunities that come with navigating the PI market. With the landscape more competitive than ever, we can help your firm explore the best options, tailor coverage to your needs, and build a strategy that supports your long-term success.
Give us a chance to explore these opportunities for you!
Torquil Crawford
Divisional Director, Professional Indemnity
torquil.crawford@assuredpartners.co.uk
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